that s not necessarily translating to main street because productivity gains have been incredible. there are lots of employers who are doing incredible in terms of volume, but with fewer employees. two, businesses around the world have more choices about where they re going to expand and hire. i was recently in india and a cowell of months before that, in cory r korea and japan. you see these massive research and development facilities from well-known u.s. names. the fact is, businesses have more choices than ever before. the final piece, we just yesterday released a report from our sints technology, engineering and math. our stem counsel. what they found in our state for there are basically four open jobs connected to science, technology, engineering and math for every person that s looking, but if you don t have a stem background, then there are a couple of people looking for every job that s available in the nonstem fields, so the economy is is very different
combined earnings for all those companies. right now they re at 56. so we have almost twice the earning and basically at the same level we were at record mights in 07. so clearly that was even before 2002. so clearly we have more underpinnings in this market. the problem is all that prosperity has come with revenues not going up over the last 12 months. it s actually down 4%. so we re getting more earnings, we re not getting the revenue. we re also seeing productivity gains. so you re seeing that companies are increase not guilty profits, but not hiring more people. so there is a little of that disconnect that gary b was talk being. gary b, who cares if the market keeps going up? hooo! i care. anyone that s associated with wall street and the continual no, if the market keeps going up, who cares what happens with the economy? can t it keep going up? the 13.6% unemployment. most people don t really
that s nonsense. wealth isn t static. it grows. it grows with everyone. can it do better with the poor? yes. not because you need to take someone else that did really well. we need to figure out how to rise this. it s the middle class. it s the middle class moving far more to have more in common with the poor than top 1%. i disagree it s about comparing yourself to someone else. if you take youngsters that i m talking about, forget comparisons with the people who are rich, these are kids who can t afford to get married, can t afford to have that first child or afford to make a down payment on that first home. it s not about a comparison. it s about their quality of life. let s not talk about kids for a minute. let s take a postwar perspective about productivity and earnings. companies raking in huge profits and productivity gains are unbelievable. gap between hourly compensation and productivity is biggest in decades. is this how capitalism works?
1.7 trillion in corporate cash in the bank. they have good earnings but american workers aren t necessarily feeling it. it s true. productivity gains have really favored companies, not necessarily workers. workers getting squeezed. on the top line there you have 200% increase in productivity. the bottom line is worker compensation. look at that. the difference. we feel as though we are running in place even as you see investors because we are. investors doing well. in this report i want to be looking closely to see if there is foreshadowing of sequester, public sector jobs cuts and there was a snowstorm last month. we ll see how that affects the numbers. we expect that in 90 minutes or so. we are learning more about how a lion killed a young woman who was interning at a cat haven. john has a look at that and the day s top stories for us, good morning. good morning. new details about the young
you have a jobless rate almost 8% and stocks near records. it is contradictory. what s the reason? the stokt market reflects how companies feel, not how people feel. companies profits and outlooks are good because productivity gains are going to companies not people. it shows productivity in post war look at that, look at the workers, how much people make versus how much more they re producing, you can see that big disconnect there, it s something people feel. thanks, christine, we ll bring the jobs numbers at 8:30 a.m. and roughly 28 minutes or so, so we re watching that. from the middle east to the nation s capital all eyes on a manhattan courtroom where the son-in-law is about to be arraigned, suleiman abu ghaith was brought to new york on charges he conspired to kill americans. cnn national correspondent susan candiotti is in lower manhattan.